Property Showcase

348 Paseo De La PlayaREDONDO BEACH, CA 90277 0

$9,000,000
Multi-Family
Status: Active
  • Bed:16
  • Bath:16
  • Sqft:7,943
  • Lot:0.23 acre
  • MLS#: 22211649
33.811813354492188-118.39016723632813
Courtesy Of John Katnik, DRE#02002695, BRC Advisors- BH

Description:

We are proud to present a once in a lifetime opportunity to acquire an 8-unit oceanfront apartment community located in the affluent city of South Redondo Beach. The Villa de la Playa is 1 of 8 apartment buildings on the street and has been meticulously maintained by current ownership. The property has undergone extensive capital improvement over the past 7 years including anew roof, copper plumbing, refurbished garage doors, solar panels, vinyl windows, three (3) newer water heaters and new decks/railings throughout the building. All unit interiors have been renovated including granite/quartz countertops, new or refinished kitchen cabinets, new appliances, LVP flooring, and new vanities and tile bathrooms. The offering is composed of 1 one-bedroom/one bathroom unit, 5 two-bedroom/two-bathroom units, 1 XL two-bedroom/two-bathroom owner's unit and 1three-bedroom/three-bathroom unit. The three bedroom unit has potential to be split into two separate units as the unit features two entrances and two kitchens. The property is not subject to a local rent control (subject to AB 1482) allowing for 10% rent increases in year 1. The property is in the hottest market in the South Bay walking distance to the Riviera Village which features some of the best restaurants and retail in all of the South Bay. This investment presents a very attractive opportunity to own a turnkey asset on one of the most desirable streets in all of the South Bay.

Main Features:

Listing Status Active Year Built 1960
County LOS ANGELES Rental Price $0
Units 8 Zoning TORR-MD

Additional Features:

Accessibility Features None
Appliances Dishwasher
Disposal
Dryer
Microwave
Refrigerator
Washer
Condition RepairsMajor
UpdatedRemodeled
Cooling None
Faces West
Flooring Laminate
Garage Y
Heating Central
WallFurnace
HOA $0.00
Interior Features CeilingFans
Laundry CommonArea
Listing Service FullService
Listing Type SellerReserved
New Construction N
Parking Garage
Tandem
Pool None
Porch/Patio/Deck Deck
Open
Patio
Possession CloseOfEscrow
Spa None
Spa YN false
Special Conditions Standard
Tenant Pays Electricity
Gas
Waterfront Features OceanFront
Year Built Source Assessor

Extra Features:

Building Square Feet 7943 Cap Rate 1.82
DOM 56 Gross Income 300000
Listing Key 1023994834 Net Operating Income 164186
Number of Buildings 1 Parcel Number 7511018017
Public Document Count 0 Quarter Bath 0
SQFT Source Assessor Three Quarter Bath 0

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable Copyright 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Information deemed reliable but not guaranteed.
Copyright© 2023 California Regional Multiple Listing Service, Inc. All rights reserved.
Last Updated On: 1/27/2023 3:38:17 PM

348 Paseo De La Playa, REDONDO BEACH, CA 90277

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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable Copyright 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Information deemed reliable but not guaranteed.
Copyright© 2023 California Regional Multiple Listing Service, Inc. All rights reserved.
Last Updated On: 1/27/2023 3:38:17 PM

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